In a significant move to bolster the economic ties between the United Arab Emirates (UAE) and Pakistan, the UAE has announced a substantial allocation of $10 billion for investment in promising economic sectors within Pakistan. This major announcement was reported by the UAE’s official news agency, WAM, on Thursday.
The declaration followed an important meeting in Abu Dhabi between UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the Prime Minister of Pakistan, Muhammad Shahbaz Sharif. The talks aimed at strengthening the Pakistani economy, enhancing cooperation between the two nations, and exploring mutual interests.
Prime Minister Shahbaz Sharif arrived in the UAE on Thursday for a brief but crucial visit, during which he was accompanied by a high-level delegation. This included Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, Minister for Commerce Jam Kamal Khan, Minister for Defence Khawaja Muhammad Asif, and Special Assistant to the Prime Minister Syed Tariq Fatemi, as reported by Radio Pakistan.
During the meeting, PM Shahbaz expressed condolences to the UAE President for the recent passing of close family members, Sheikh Tahnoun bin Mohamed Al Nahyan and Sheikh Hazza bin Sultan Al Nahyan. The discussions covered a wide range of bilateral relations encompassing political, economic, social, cultural, and defense sectors, as highlighted by Pakistan Television Corporation (PTV) in a post on X (formerly Twitter).
PM Shahbaz emphasized the importance of enhancing existing cooperation and reinforcing the strategic partnership between the UAE and Pakistan. He specifically mentioned the fields of information technology, renewable energy, and tourism as key areas for collaboration. The Prime Minister outlined the various steps taken by his government to ensure socio-economic stability and build investor confidence in Pakistan.
He reiterated Pakistan’s dedication to effectively implement investment cooperation agreements, particularly in sectors like energy, port operations projects, wastewater treatment, food security, logistics, minerals, and banking and financial services. This commitment was aimed at creating a conducive environment for foreign investments and fostering long-term economic growth.
The UAE hosts a significant Pakistani diaspora, with approximately 1.8 million Pakistanis living and working in the country. PM Shahbaz expressed his gratitude to the UAE leadership for their support and highlighted the vast human resource potential of Pakistan that could be engaged across multiple sectors.
Both leaders also exchanged views on various regional and global developments, discussing mutual interests and potential areas for further collaboration. PM Shahbaz extended an official invitation to the UAE President to visit Pakistan, which Sheikh Mohamed bin Zayed Al Nahyan accepted, promising to further solidify the ties between the two nations.
The $10 billion investment pledge by the UAE is poised to play a crucial role in supporting Pakistan’s economy. This strategic investment will not only enhance the economic landscape but also foster stronger bilateral relations, ensuring mutual growth and stability.
By focusing on sectors like information technology, renewable energy, and tourism, the UAE aims to help Pakistan unlock its full economic potential. Additionally, the focus on socio-economic stability and investor confidence underscores the commitment of both nations to a prosperous and collaborative future.
